Apollo Tyres Ltd announced today it has laid the foundation stone for its new manufacturing facility in Chinnapanduru village, Chittoor district, Andhra Pradesh (AP), in the presence of N Chandrababu Naidu, Chief Minister, AP. The company had purchased 200 acres of land from the AP Government for the manufacturing facility, and would be investing nearly Rs 1,800 crore in the first phase. This will become Apollo Tyres’ seventh manufacturing facility globally once operational.
Construction of the plant is expected to begin within the next six months, with tyres production expected in the next two years, the company said. Apollo plans to start manufacturing passenger vehicle tyres in this facility, due to the growing demand in this segment, and later on expand to producing other product categories.
Naidu was delighted to have Apollo Tyres setting up a state-of-the-art manufacturing unit in Andhra Pradesh. He said this will provide direct jobs to almost 700 people and to many more indirectly, in the first phase. The employment opportunity would further get increased when the company expands in the future, added Naidu.
While planning for this facility, the company has provisioned for the future capacity expansion requirements in India for the next five years and more, noted Onkar S Kanwar, Chairman, Apollo Tyres Ltd. He thanked the AP Government for cooperation received from them so far, and is confident of getting the same going forward as well towards the smooth construction and management of this facility.
Apollo Tyres currently has four manufacturing facilities in India - two (including a leased facility) in the state of Kerala, and one each in Gujarat and Tamil Nadu. Outside India, the company has a manufacturing facility each in The Netherlands and Hungary.